From Mines to Medicines - Australia Poised to Lead a Life-saving Revolution in Radiopharmaceuticals
18 April 2024
A new discussion paper from MTPConnect reveals how Australia is ready to play a leading role in the rise of the global radiopharmaceutical industry, as advanced therapies drive significant investment and rapid expansion.
Radiopharmaceuticals are precision nuclear medicines used for medical imaging and treatment. These radioactive drugs target specific organs or tissues, allowing doctors to diagnose and deliver targeted therapies for diseases such as cancer.
MTPConnect CEO, Stuart Dignam, says the new paper highlights Australia’s competitive edge on the rest of the world, starting with the raw material – uranium and its waste products – found in South Australia.
“To gain first mover advantage, South Australia is identified as the ideal location with end-to-end capabilities – from unique mining assets and a robust research ecosystem through to cutting-edge clinical services and specialised workforce,” Mr Dignam says.
“Properly leveraged, these advantages mean Australia really can be a global leader in radiopharmaceuticals, a cutting-edge field with groundbreaking treatments being developed.
“It’s the right time for government and industry to start working together to unlock this homegrown potential for sovereign manufacturing and more secure supply chains.
“The paper outlines a national roadmap to maximise this opportunity and leverage our competitive edge.
“Australia’s radiopharmaceutical industry is at a critical juncture. Bold action now could lock-in Australia as global hub for radiopharmaceuticals and unleash economic growth, create smart and high paying jobs, build export opportunities and make life-saving treatments accessible to Australians.”
The discussion paper, ‘From Mines to Medicines. Australia’s Radiopharmaceuticals Future’ is being launched in Adelaide today at the Adelaide Intermediary Program’s SA Insights Series event, following a stakeholder roundtable. A special episode of the MTPConnect Podcast will also be released to accompany the paper.